Indonesia is introducing a golden visa program

Golden Visa - a new intriguing initiative implemented by Indonesia aimed at attracting the attention of foreign investors. Through this program, foreigners can obtain a residency permit, particularly for the island of Bali. Explore more detailed information about the conditions, required investment amount, and advantages of the Golden Visa in Bali.

Bali is the heart of Indonesia and one of the most desired and tourist-friendly destinations for relocation worldwide. The country actively welcomes temporary expatriates and digital nomads, but if you wish to move long-term or obtain permanent residency, migration legislation can be quite intricate.

Currently, the Indonesian government is focused on simplifying immigration policies and attracting business to the country. It is planned that by the end of 2023, the country will launch a new program for investors – the Golden Visa.

What are the launch conditions for the Golden Visa program in Indonesia?

The launch of the investment visa in Indonesia is grounded in the government's goal to create 4.4 million new jobs by the end of 2024. This initiative aims to attract talented entrepreneurs worldwide, especially in the fields of healthcare, research, and technology.

Advantages of the Golden Visa in Bali

It is specified that investors will have access to the following benefits:

• Right to own real estate on the island of Bali

Bali is an ideal place for property acquisition for both investment purposes and obtaining a personal residence. This island is not only perfect for living but also ranks fourth globally in terms of investment attractiveness.

The Golden Visa provides access to elite properties, investing in which can lead to maximum financial benefits. Optimal returns can also be achieved by purchasing property during the construction phase; however, it is crucial to choose a reliable developer and verify the availability of necessary permits.

• Unlimited entry and exit from the territory of Indonesia
• The visa application procedure is simplified, which is highly convenient
• Fast-track to obtaining citizenship in Indonesia
  

When will the program be implemented?

Initially planned for launch in June 2023, the Golden Visa program in Indonesia was postponed due to administrative challenges. The program was launched in September 2023 as announced by the Ministry of Law and Human Rights Regulation (Permenkumham) Number 22 of 2023.

What is the required investment amount for obtaining a Golden Visa in Indonesia?

There are two investment options to obtain the Golden Visa:

1. Launching a business in Indonesia:

• Residence permit for 5 years – minimum capital requirement of $2.5 million
• Visa for 10 years – investment amount starting from $5 million

Corporate investors need to exceed an investment of $25 million for a five-year visa or $50 million for a 10-year permit.

2. Purchasing government bonds in Indonesia – investment amount ranging from $350,000 to $700,000.

What are other types of long-term residence permits available in Indonesia?

1. Permanent residence visa: Can be obtained for a period of 5 or 10 years. Applicants must confirm income outside Indonesia and provide a bank statement with a balance exceeding 2 billion Indonesian rupiahs (approximately $130,537). This visa is designed for retirees and investors planning to purchase property in Indonesia.
2. Visa suitable for freelancers: Individuals choosing Indonesia as a temporary residence can acquire a B211a visa allowing remote work and a stay of up to six months. The Indonesian government is also considering the introduction of a five-year residence permit for digital nomads.
3. Visa on arrival: This permit allows a 30-day stay, extendable for an additional 30 days at a cost of 500,000 Indonesian rupiahs ($32).

Bali is a magnificent place that attracts people from all corners of the world. However, when moving to the island it's crucial to adhere to certain rules: have official licenses for scooter driving, reside only in registered and official accommodations, maintain peaceful relations with locals avoid touching sacred trees, wear modest clothing in temples and observe traditional ceremonies.

Information is accurate as of January 25, 2024.